Question

Definition of economic system given by different sociologists

Answer 1

An economic system (also economic order) is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area.

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Answer 2

an economic system is a system of production, resource allocation and distribution of goods and services within a Society of a given Geographic area :

four types of economic system :-

1:-traditional,

2:-comman

3:-, market,

4:- mixed